bitwise

Cryptocurrency asset management company Bitwise announced on Thursday that it will liquidate and close its spot Dogecoin (DOGE) exchange-traded fund, approximately 10 months after the fund's launch. The last trading day for the Bitwise Dogecoin ETF (BWOW) on the New York Stock Exchange is expected to be October 14, and the liquidation will be conducted in cash, with shareholders needing to take no action.Bitwise stated that the decision to liquidate the fund was made to continue optimizing its product line to meet the changing demands of investors. BWOW was launched in November 2025, with an initial trading volume of approximately $3 million on its first day, but it has failed to reach that level again since then. According to SoSoValue data, the fund saw a net inflow of approximately $318,000 last month, reversing a slight outflow in July.The spot Dogecoin ETF first debuted in the U.S. market in September 2025. Despite being highly anticipated at launch, it failed to attract investor interest. To date, the cumulative trading volume of the Dogecoin fund is approximately $300 million, which is significantly lower than that of alternative coin ETFs such as Hyperliquid ($2.1 billion), Zcash ($1.5 billion), and Chainlink ($680 million).

According to Arkham, Bitwise's BSOL ETF had a net inflow of $107.4 million over the past 20 trading days, with funds only flowing out on 2 trading days.

Bitwise's Head of Research for Europe, André Dragosch, pointed out in a client memo that the 90-day correlation between Bitcoin and gold has reached its highest level in nearly six years. Bitcoin rose by 22.4% in a week, marking the largest weekly gain since March 2024, while gold increased by about 5%, and the stock market declined. The last time similar data appeared was in 2020, when governments and central banks around the world implemented fiscal and monetary stimulus measures in response to the COVID-19 pandemic crisis. Bitwise noted that according to its 90-day indicator, as of the end of August, Bitcoin had a negative correlation with the US dollar index, which means that a weakening dollar would be beneficial for Bitcoin and gold.

On-chain data analysis platform Arkham stated that Bitwise's BHYP clients have not purchased any HYPE for four consecutive days. On Friday, they bought $10.5 million, marking the largest single-day purchase of BHYP since buying $23.2 million on August 27.Arkham indicated that Bitwise has accumulated a total of $166.3 million in HYPE since its launch, making it the largest HYPE ETF currently.

Bitwise CEO posted on the X platform that GPUs are one of the most important commodities in the digital age. USD AI has created GPU asset-backed credit to serve medium-sized borrowers who have not been adequately serviced before, and will tokenize the related credit.Real-world credit is gradually moving on-chain, and Bitwise will provide access through PAPY.

According to Bitwise CEO monitoring, there are currently 1,328 investors using the ATP. An important aspect of on-chain finance is providing participation opportunities for everyone.

Bitwise's latest report shows that the correlation between Bitcoin and gold has risen to a six-year high. Bitwise's Head of Research for Europe, André Dragosch, stated that the last time the correlation reached this level was in 2020, during the period of multiple fiscal and monetary stimulus following the COVID-19 pandemic; meanwhile, the correlation between Bitcoin and the stock market has dropped to a one-year low, suggesting a decoupling between hard assets and the stock market.The report believes that the simultaneous rise of Bitcoin and gold is due to the "substantial intervention in the macro picture" by the U.S. government. Last month, the U.S. Treasury announced it would more than double the scale of government debt buybacks, leading to a weakening of the dollar, and investors flocked back to gold and Bitcoin; in the same week, U.S. public debt surpassed $40 trillion for the first time, further undermining market confidence in the dollar. Bitwise stated that investors are no longer entangled in whether to hedge against currency depreciation with gold or Bitcoin, but are holding both simultaneously, and pointed out that "Bitcoin has been priced as a risk asset for its first fifteen years, and if this correlation trend continues, the next fifteen years could be very different."Driven by this, Bitcoin rose again this week, increasing nearly 6% within 24 hours, with the price briefly approaching $81,438.

Bitwise announced the launch of the Bitwise Premium RWA Vault (PAPY) on Morpho, in collaboration with the Agora stablecoin AUSD.Users can deposit AUSD into PAPY, and the vault will programmatically lend out the funds, secured by over-collateralized tokenized RWAs to generate on-chain lending yields.The collateral assets of PAPY include PST launched by Huma Finance, used for providing short-term cross-border payment financing to institutions; sUSDai launched by USDai, supported by AI computing GPU-related loans; and PRIME launched in collaboration with HastraFi and Figure, consisting of tokenized debt backed by high-quality residential equity.AUSD is fully backed by liquid assets such as short-term U.S. Treasury bonds, overnight and reverse repurchase agreements. Bitwise is responsible for screening the collateral acceptable for PAPY and setting programmatic risk parameters. The vault is now officially launched on Morpho.

Bitwise CEO posted on the X platform that Solana, Ethereum, and Bitcoin are currently the only three crypto assets in the world whose ETF size has grown to over $1 billion.

Bloomberg ETF analyst Eric Balchunas posted on the X platform that the Bitwise Solana ETF has just surpassed $1 billion in size, becoming the first Solana ETF to reach this scale.The Solana ETF category has accumulated inflows of $1.7 billion, and after experiencing a severe decline in the first half of this year, there has been almost no sustained outflow of funds.

According to on-chain analyst Onchain Lens, the Bitwise-owned BHYP wallet transferred 82,580 HYPE (approximately 7.11 million USD) to Hyperliquid 5 hours ago.In the past 6 days, a total of 145,170 HYPE has been transferred, with a total value of approximately 12.04 million USD.

Bitwise CEO posted on the X platform, stating that approximately $100 million in funds flowed into Bitwise's ETPs in the United States. Among them, Solana accounted for about $40 million, Bitcoin about $22 million, Hyperliquid about $20 million, XRP about $12 million, and Ethereum about $1.4 million, ranking in the top five for fund inflows.Investors are increasing their exposure to crypto assets.

BlackRock has significantly lowered the threshold for investors to directly convert self-custodied BTC into shares of the spot Bitcoin ETF IBIT, with the minimum conversion size reduced from the previous $25 million to $1 million; Bitwise has also lowered the related threshold from $100 million to $3 million.This conversion is completed through "in-kind creation," allowing investors to directly deliver BTC in exchange for ETF shares, without the need to first sell BTC and then buy the ETF, thus avoiding the immediate capital gains tax triggered by the sale. Robbie Mitchnick, Head of Digital Assets at BlackRock, stated that IBIT has processed over $5 billion in such conversions, further increasing from $3 billion in October of last year.

Bitwise CEO posted on the X platform that approximately $45 million flowed into the Bitwise Solana Staking ETF BSOL in the first two days of this week, with its assets under management approaching $1 billion, and stated that Solana should not be underestimated.

According to monitoring disclosed by Arkham, Bitwise clients have continuously purchased SOL for 5 days, with the latest day's purchase scale of approximately 25 million USD. Since the launch of the BSOL ETF, Bitwise clients' cumulative net purchases of SOL have reached 948 million USD.Arkham pointed out that Bitwise-related funds continue to increase their holdings of SOL and are paying attention to whether this week's net purchase scale is expected to further approach the 1 billion USD mark. BSOL is the Solana spot ETF-related product launched by Bitwise.

Digital asset management company Bitwise announced the launch of a Tokenized Stock Automated Portfolio (ATP), allowing eligible investors to hold and automatically rebalance a basket of U.S. stocks directly in their crypto wallets. These products utilize tokenized U.S. stocks recently launched by Coinbase, with rebalancing executed by portfolio technology provider Glider based on a model designed by Bitwise, currently available only to qualified investors outside the U.S.The first portfolios cover configurations focused on AI, robotics, and an expanded version of the "Big Seven" U.S. stocks, which includes weighted allocations to Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla, along with SpaceX. Bitwise Chief Investment Officer Matt Hougan stated that for over a century, accessing professional models meant handing assets over to funds, whereas ATP allows investors to keep their assets in their own wallets while the model actively seeks them out.The announcement came a day after Coinbase launched tokenized stocks for Apple, Nvidia, Meta, and Alphabet on the Base network. Bitwise is an asset management company managing approximately $9 billion in assets and has recently ventured into on-chain asset management businesses such as DeFi treasury curation. Glider is a specialized firm in automated portfolios and earlier this year collaborated with Ondo Finance to provide personalized portfolios using its tokenized stock products.

According to The Block, Bitwise has launched Automated Token Portfolios, allowing eligible non-U.S. users in supported jurisdictions to automatically replicate and rebalance professionally designed Coinbase tokenized U.S. stock portfolios while maintaining self-custody in their own wallets.The portfolio is supported by Coinbase and implemented through Glider, initially focusing on themes such as Mag 7, SpaceX, leading companies in robotics, and AI. The product charges a 0.15% methodology access fee, excluding transaction fees and platform fees.

According to The Block, Bitwise President Teddy Fusaro stated that the Solana staking ETF (BSOL) reached a trading volume of $108 million on Monday, setting a new single-day historical high for Solana ETFs.On the same day, Bitwise's XRP ETF trading volume exceeded $80 million, far surpassing its usual level of below $12 million.

Bitwise CEO posted on the X platform stating that in the first half of this year, despite the bear market environment, investors net invested over $1.8 billion into Bitwise products. Among these, the inflows for ETFs/ETPs, private active and Alpha strategies, staking, and vault products all exceeded $100 million.Bitwise is composed of more than 150 individuals from the finance and technology sectors. He stated that these individuals could have pursued other careers but chose to drive this turnaround story alongside the crypto industry. The Bitwise team hopes that the crypto industry can change the world and that the efforts of many participants will be recognized.He mentioned that Bitwise is not the main player in the industry; its role is to support the industry ecosystem and help investors participate in emerging opportunities. He also expressed gratitude to everyone who entrusted Bitwise with managing their investments and assets, stating that the team is happy to engage in related work.